China's export prices for stainless steel pushed up in the week to Wednesday October 14 due to the the stronger yuan, rising demand from buyers and higher domestic prices. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,500-15,200 yuan ($2,159-2,263) per tonne, up by 100 yuan per tonne a week earlier.Buyers have raised procurement rates over the past week to re...Read More
They say that time travels are impossible. But we just went back to the 1960s! At least in the field of the monetary policy. And all because of a new Fed’s framework. So, please fasten your seat belts and come with me into the past and present of monetary policy – to determine the future of gold!At the end of August 2020, the Fed has modified its Statement on Longer-Run Goals and Monet...Read More
After nearly three weeks of sideways/downward price action in Gold and Silver, our researchers believe both metals have already set up another breakout/rally attempt after breaching downward resistance (shown as the downward sloping CYAN line). This could be another huge opportunity for precious metals traders as the next move higher should prompt a rally above recent highs. That means a target pr...Read More
Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International Recycling (BIR) 2020 World Recycling Convention.Nathani, managing director of Mumbai-based steel raw materials supplier Nathani Group, gave an overview of the South Asia ferrous and steel...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 15 that are worth another look.Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 15 that are worth another look.Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International...Read More
Hot-rolled coil prices in the United States are at their highest point in nearly 18 months amid a supply squeeze that shows no short-term signs of letting up, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32.72 per hundredweight ($654.40 per short ton) on Thursday October 15, up by 0.7% from $32.48 per cwt on Wednesday and by 3.6% from $31....Read More
Prices in the United States for imported flat-rolled steel have inched upward on stable raw material costs abroad and the resumption of normal activity following China's Golden Week holiday, market participants said."The global market has seen a bit of an uptick this week, and everyone is trying to make one more push for higher prices," one trader source said.Hot-rolled coilFastmarkets' price asse...Read More
DADA Holdings LLC, the principal owner of New Day Aluminum, and Canada-based green technologies firm Enervoxa have formed a joint venture (JV) to extract rare earth elements and minerals from bauxite residue at New Day's Gramercy alumina refinery in Louisiana, the United States. The venture, called ElementUS, will use Enervoxa technology to separate bauxite residue into its component materials, in...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 15 that are worth another look.Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International...Read More
The battles to free silver from manipulation continue!by Bix Weir of Road to RootaFor 10 years we watched the CFTC & COMEX stand back and ALLOW the Silver price suppression until FINALLY the DOJ came in and slapped JPM on the wrist and asked them to stop. WHERE'S THE CFTC & COMEX "Slap on the Wrist?" The battles to free silver from manipulation continue!Read More
The London Metal Exchange three-month prices of copper and aluminium made small gains in trading on Thursday October 15, with the red metal rising by 1%.The LME three-month copper price closed at $6,783 per tonne, after a moderate turnover of 14,665 lots during the day.Fastmarkets analyst Andy Farida noted in his "Copper Today" report the "nearby macro headwinds" supporting the copper price, "with...Read More
Seaborne iron ore prices declined slightly on Thursday October 15 with some market participants sensing the start of some price stability after several consecutive downward corrections, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $118.70 per tonne, down $0.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.04 per tonne, down $0.94 per tonne58% Fe fines high-grad...Read More
Fastmarkets' seaborne premium hard coking coal cfr index edged down day on day on Thursday October 15, with Chinese buyers sitting on the market sidelines, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $134.27 per tonne, down $0.71 per tonneHard coking coal, fob DBCT: $108.52 per tonne, unchangedHard coking...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil (HRC) moved sharply higher in September, in line with our expectations, but the magnitude of the rise exceeded our predictions. Domestic HRC prices averaged $566 per ton in September, exceeding our $540 per ton forecast price.A c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Although we correctly forecast a significant rise in hot-rolled coil (HRC) prices in the United States in September 2020, our price forecast proved too conservative.An impressive V-shaped recovery in key economic fundamentals critical to steel consumption is driving stronger demand for steel at the start of the fourth quarte...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More